We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.
You don’t need a lot of money to start a business.
So if you’ve been waiting for capital to turn your idea into a reality…well, you can stop waiting. We talked to ten successful founders who run businesses bringing in up to seven figures a year, and half of them said they started their journey without less than $500. One of them started with nothing.
If you do have some seed funding, great—you’re in an even better position. Make sure you’re using it as effectively as possible.
Here’s how much money these ten founders used to start their business, and their advice for new entrepreneurs.
Less Than $500: Nicole Pomije
Nicole Pomije is the creator & owner of The Cookie Cups. COVID-19 forced her to pivot aggressively, and she launched a line of at-home baking kits as a family activity. She started the food product business on less than $500.
Nicole Pomije Courtesy of Nicole Pomije
“I bought baking ingredients, paid a graphic designer who was a friend to make me a logo, and signed up for a farmers’ market to sell my Cookie Cups as a test run,” says Pomije. “From there, it grew to several more markets and larger local events and then eventually to two storefront bakery locations. I put everything I made back into building the business.”
Pomije has been in business for six years, and did close to $200,000 in revenue last year.
“I became really good at budgeting. I had limited funds and believed in the concept – that’s what kept me going,” she notes.
Pomije encourages aspiring business owners to use their pre-launch time wisely and really understand the market.
“Do your research and know what you are getting into before you start,” she encourages. “Also, know the competition in the space. If it seems like a good idea, go for it!”
Pro Tip
Test cheaply and quickly before plunging money into your ideas.
$4,000: Shaunda Head
Shaunda Head is the founder of SHH Creative and has over 15 years of experience helping female entrepreneurs elevate their brands. A loan from a family member helped her expand her business at the start.
Shaunda HeadCourtesy …….
Source: https://time.com/nextadvisor/investing/how-much-money-start-business/
